Crypto Community Expresses Feelings On Christmas Market: ‘No Santa Gathering’

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Traders who were looking forward to a Christmas rally were disappointed as markets proved flat as many celebrated the holidays. Members of the Crypto community expressed their disappointment by sharing memes, with some even using their creativity through poetry.

On December 23, data tracker Coinstats shared an image showing positive market movements and initiating the idea of ​​a potential Santa Claus rally.

Is this the start of the Santa Claus Rally? pic.twitter.com/zf1WDNaGpm

— CoinStats (@CoinStats) December 23, 2022

However, with the Bitcoin Volatility Index hitting all-time highs on December 25, any thoughts of having a merry BTC Christmas rally have been put to rest. Data from Cointelegraph Markets Pro showed the top crypto hovering around $16,800 on holiday.

A community member pointed out that the lack of gathering this Christmas could be due to the controversies that have surrounded centralized exchanges like FTX and Binance this year. Adding some creativity to the mix, analytics tool CMM shared a poem inspired by FTX’s collapse involving the company’s former CEO, Sam Bankman-Fried.

Roses are red. Your NLP is too. Santa Claus is not coming tonight. SBF also liquidated it.

— CMM (@CoinMarketMan) December 24, 2022

Meanwhile, another community member hinted that the lack of Christmas gifts could be because Santa Claus was also affected by the crypto drops. On the other hand, some Twitter users expressed their frustration by sharing memes.

Thanks for the Santa Claus Christmas Pump. pic.twitter.com/B6Q4O96kgw

— Mr. Backwards (@Coin_Shark) December 26, 2022

One shared a photo of a cat giving a thumbs up while thanking Santa for the Christmas pomp that didn’t happen. Another shared a photo of a psychologist supposedly treating a crypto trader for believing in Santa’s rally.

Related: 4 Emerging Crypto Narratives to Watch: Trading Company

As the crypto markets stalled, bad actors in the space continued their work. In a recent exploit, approximately $8 million in assets were compromised because hackers hijacked an APK from the BitKeep wallet. The team urged members of its community to transfer their funds to wallets downloaded from official sources such as the Apple App Store or Google Play.

Apart from this, another exploit was carried out by hackers linked to the North Korean group Lazarus. The attackers reportedly launched a massive phishing campaign targeting non-fungible token (NFT) users. The hackers launched about 500 phishing domains to lure their victims and steal their NFTs.

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